urban institute nonprofit social and economic policy research

View Research by Author - Pamela Lee

Publications


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Housing Finance At A Glance: A Monthly Chartbook: April 2014 (Commentary)
Laurie Goodman, Ellen Seidman, Jim Parrott, Jun Zhu, Wei Li, Bing Bai, Pamela Lee, Taz George, Maia Woluchem, Alison Rincon

At A Glance, the Housing Finance Policy Center's monthly chartbook, provides timely metrics on the state of the housing market and examines public policy's role in housing finance. March's issue includes a special quarterly feature on GSE loan performance and new numbers on the Federal Reserve's activity in the mortgage market.

Posted to Web: April 15, 2014Publication Date: April 15, 2014

OASIS: A Securitization Born from MSR Transfers (Commentary)
Laurie Goodman, Pamela Lee

Early in 2014, Ocwen Loan Servicing, the nation’s largest nonbank mortgage servicer, completed a new type of quasi-securitization to help Ocwen fund its servicing business, which has grown as mortgage servicing has shifted from depository institutions to nonbanks. This shift has occurred in response to Basel III regulations, which make it more costly than in the past for large banks to hold mortgage servicing rights. In this commentary, we describe the changing mortgage servicing market and the reasons for those changes. We then look at Ocwen’s new security, its purpose, and its appeal to investors.

Posted to Web: April 01, 2014Publication Date: April 01, 2014

Housing Finance At A Glance: A Monthly Chartbook: March 2014 (Fact Sheet / Data at a Glance)
Laurie Goodman, Ellen Seidman, Jim Parrott, Jun Zhu, Wei Li, Bing Bai, Pamela Lee, Taz George, Maia Woluchem, Alison Rincon

At A Glance, the Housing Finance Policy Center's monthly chartbook, provides timely metrics on the state of the housing market and examines public policy's role in housing finance. March's issue includes a new analysis of mortgage insurance activity comparing FHA and private mortgage insurance fees.

Posted to Web: March 18, 2014Publication Date: March 18, 2014

A Proposed Demonstration of a Flat Rental Subsidy for Very Low Income Households (Series/What Works Collaborative)
Mary K. Cunningham, Josh Leopold, Pamela Lee

This paper looks at alternative rental assistance programs that fall somewhere between HCVs and emergency assistance, a program that could target families with housing instability whose incomes are very low, but not extremely low. This would allow HCVs to serve extremely low income households, but offer alternative to waiting for emergency assistance. The paper begins with an overview of federal and local rental assistance programs and their incapacity to address the growing need for affordable housing. Then, it reviews the existing literature on alternative forms of rental assistance. Finally, it outlines the recommended components for a demonstration to rigorously test the impacts of one alternative assistance program: a flat, shallow subsidy. This paper is sponsored by the What Works Collaborative, a foundation-supported partnership that conducts timely research and analysis to help inform the implementation of an evidence-based housing and urban policy agenda. The What Works Collaborative has funded a handful of incubator projects that complete the first steps toward larger-scale research projects that can be funded in the future. The goal of this incubator project is to outline a proposed demonstration to test alternative rental assistance programs to help families afford housing and decrease residential instability.

Posted to Web: February 18, 2014Publication Date: January 29, 2013

Housing Finance At A Glance: A Monthly Chartbook: February 2014 (Fact Sheet / Data at a Glance)
Laurie Goodman, Ellen Seidman, Jim Parrott, Jun Zhu, Wei Li, Bing Bai, Pamela Lee, Taz George, Maia Woluchem, Alison Rincon

The February 2014 edition of At A Glance, the Housing Finance Policy Center's monthly chartbook, provides timely metrics on the state of the housing market and the role of public policy in housing finance. This month’s issue includes a new series on loan product type composition over time, illustrating the prevalence of 30 year fixed-rate, 15 year fixed-rate, and adjustable-rate mortgages.

Posted to Web: February 14, 2014Publication Date: February 14, 2014

Housing Finance At A Glance: A Monthly Chartbook: January 2014 (Fact Sheet / Data at a Glance)
Laurie Goodman, Ellen Seidman, Jim Parrott, Jun Zhu, Wei Li, Bing Bai, Pamela Lee, Taz George, Maia Woluchem, Alison Rincon

The January edition of At A Glance, the Housing Finance Policy Center's monthly chartbook, provides timely metrics on the state of the housing market and the role of public policy in housing finance. This month’s issue contains a special quarterly feature on Fannie’s and Freddie’s loan composition and performance.

Posted to Web: January 21, 2014Publication Date: January 21, 2014

Housing Finance at a Glance: A Monthly Chartbook : December 2013 (Research Report)
Laurie Goodman, Ellen Seidman, Jim Parrott, Jun Zhu, Wei Li, Bing Bai, Pamela Lee, Taz George, Maia Woluchem, Alison Rincon

The December edition of At A Glance, the Housing Finance Policy Center's monthly chartbook, provides timely metrics on the state of the housing market and the role of public policy in housing finance. Topics also include the GSEs under conservatorship, modification activity, and agency issuance and Fed purchases. New this month are an overview of house price trends nationally and by MSA, and rates of delinquency and negative equity over time.

Posted to Web: December 19, 2013Publication Date: December 19, 2013

Housing Finance at a Glance: A Monthly Chartbook: November 2013 (Fact Sheet / Data at a Glance)
Laurie Goodman, Ellen Seidman, Jim Parrott, Jun Zhu, Wei Li, Bing Bai, Pamela Lee, Taz George, Maia Woluchem, Alison Rincon

Drawing from our specific expertise in spatial analysis, we have produced an MSA-level analysis of housing affordability, which will be enhanced over the next several months. This month we’ve added a regular quarterly installment that divides newly released GSE data by LTV ratio, FICO score, vintage year, and other characteristics. We also highlight trends in mortgage insurance premiums, and provide details about the latest risk-sharing transactions at Fannie and Freddie.

Posted to Web: November 18, 2013Publication Date: November 18, 2013

Housing Finance at a Glance: A Monthly Chartbook: October Edition (Research Report)
Laurie Goodman, Ellen Seidman, Jim Parrott, Jun Zhu, Wei Li, Bing Bai, Pamela Lee, Taz George, Maia Woluchem, Alison Rincon

At A Glance is the signature monthly publication of the Housing Finance Policy Center. It is designed as a single reference for mortgage market data, through a public policy lens. Drawing from a range of sources that are often difficult to access and interpret, At A Glance contains key measures of housing affordability, credit availability, and other topics related to the government role in the mortgage market. The authors compile and illustrate this critical information in a comprehensive and easily digestible format so that stakeholders across the housing finance sphere—government, advocacy, academia, and private markets—can contribute to data-driven policy debates. Highlights of the October issue include the GSE portfolio wind-down, tapering HAMP and HARP activity, and housing affordability by MSA.

Posted to Web: October 24, 2013Publication Date: October 24, 2013

Eminent Domain: The Debate Distracts from Pressing Problems (Research Report)
Pamela Lee

Richmond, CA, has taken steps to become the first city in the nation to vote to use its powers of eminent domain to seize underwater loans and, the city argues, prevent foreclosures and neighborhood blight. We look at several cities that have considered this controversial strategy, evaluating what they have in common, and whether the plan, as proposed, will address the problems they face.

Posted to Web: October 24, 2013Publication Date: October 24, 2013

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